Torrent Power Shares Gain Despite Poor Q1 Numbers

Shares of Torrent Power rose 1.49 per cent despite poor Q1 numbers for quarter ending June 30, 2016. Torrent Power reported a 79.55 percent drop in consolidated net profit to Rs 45.62 crore for the first quarter ended June 30.

"The group has posted a net profit after taxes, non-controlling interest and share of profit of associates of Rs 45.62 crore for the quarter ended June 30, 2016 as compared to Rs 223.16 crore for the quarter ended June 30, 2015," Torrent Power said in a BSE filing.

Total income of the company has decreased from Rs 3,139.03 crore to Rs 2,631.71 crore in the quarter ended June 30.

Shares of Torrent Power were seen trading at Rs 173.90, higher by 1.43 on BSE at 1.55 pm IST. It touched an intra-day high of Rs 175 and low of Rs159 during trade.